Q2 2023 EPS Estimates for AT&T Inc. Reduced by Analyst (NYSE:T)

Posted by on May 6th, 2023

AT&T Inc. (NYSE:T – Get Rating) – Analysts at Zacks Research decreased their Q2 2023 earnings estimates for shares of AT&T in a research note issued to investors on Thursday, May 4th. Zacks Research analyst S. Bose now forecasts that the technology company will post earnings of $0.59 per share for the quarter, down from their prior estimate of $0.61. The consensus estimate for AT&T’s current full-year earnings is $2.41 per share. Zacks Research also issued estimates for AT&T’s Q3 2023 earnings at $0.62 EPS, FY2023 earnings at $2.39 EPS, Q1 2025 earnings at $0.63 EPS and FY2025 earnings at $2.48 EPS.

AT&T (NYSE:T – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $30.14 billion during the quarter, compared to analysts’ expectations of $30.22 billion. AT&T had a negative net margin of 7.52% and a positive return on equity of 15.47%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.77 EPS.

T has been the topic of a number of other research reports. TD Cowen cut their price target on shares of AT&T from $25.00 to $23.00 and set a “market perform” rating on the stock in a research note on Friday, April 21st. HSBC upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, April 20th. StockNews.com began coverage on shares of AT&T in a research note on Thursday, March 16th. They issued a “hold” rating on the stock. Citigroup increased their price objective on shares of AT&T from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Finally, Raymond James increased their price objective on shares of AT&T from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 26th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $21.89.

AT&T Price Performance

Shares of T opened at $17.13 on Friday. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.47 and a current ratio of 0.51. The stock has a market capitalization of $122.46 billion, a PE ratio of -13.49, a PEG ratio of 2.12 and a beta of 0.66. The company has a 50 day moving average price of $18.63 and a 200-day moving average price of $18.78. AT&T has a fifty-two week low of $14.46 and a fifty-two week high of $21.53.

Hedge Funds Weigh In On AT&T

Several institutional investors have recently modified their holdings of T. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors grew its stake in shares of AT&T by 4.9% during the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 12,811 shares of the technology company’s stock worth $247,000 after purchasing an additional 593 shares in the last quarter. KFA Private Wealth Group LLC grew its stake in shares of AT&T by 28.2% during the first quarter. KFA Private Wealth Group LLC now owns 14,976 shares of the technology company’s stock worth $288,000 after purchasing an additional 3,297 shares in the last quarter. Truist Financial Corp grew its stake in shares of AT&T by 4.3% during the first quarter. Truist Financial Corp now owns 4,070,917 shares of the technology company’s stock worth $78,365,000 after purchasing an additional 166,945 shares in the last quarter. Citizens & Northern Corp grew its stake in shares of AT&T by 212.2% during the first quarter. Citizens & Northern Corp now owns 54,471 shares of the technology company’s stock worth $1,049,000 after purchasing an additional 37,026 shares in the last quarter. Finally, Hoylecohen LLC boosted its stake in AT&T by 16.8% in the first quarter. Hoylecohen LLC now owns 37,908 shares of the technology company’s stock valued at $730,000 after acquiring an additional 5,453 shares in the last quarter. Institutional investors and hedge funds own 51.86% of the company’s stock.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Monday, April 10th were paid a $0.2775 dividend. The ex-dividend date was Thursday, April 6th. This represents a $1.11 annualized dividend and a dividend yield of 6.48%. AT&T’s dividend payout ratio (DPR) is -87.40%.

AT&T Company Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.

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Earnings History and Estimates for AT&T (NYSE:T)

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